COVID To Not Impact Fiscal Deficit Target, Expect Recovery From July: KV Subramanian

The economy contracted by a record 7.3 per cent in the financial year 2020-21 due to COVID-19, registering its worst pace in over four decades. according to government data

The second wave of the COVID-19 pandemic has affected the momentum of the economy, however, economic recovery is expected from July 2021, Krishnamurthy Venkata (KV) Subramanian told news agency ANI today. ''We expect a recovery in the economy from July. Now, states have started removing restrictions and if we speed up vaccination, our economy will start recovering,'' said KV Subramanian, Chief Economic Advisor (CEA) to the central government. (Also Read: Pandemic Has Affected Employment In India: Chief Economic Adviser To NDTV ) The second wave of COVID19 has affected the momentum of economic recovery. We expect a recovery in the economy from July. Now, States have started removing restrictions and if we speedup vaccination our economy will start recovering: Chief Economic Advisor KV Subramanian to ANI pic.twitter.com/YmKkN0EMsI The comment from the top economist come at a time when the country is battling against the severity second wave of the pandemic with thousands of job losses registered across sectors. ''India will be able to achieve vaccination for all by December. If we vaccinate people in three shifts each day, then, we can vaccinate one crore people in a day. This is definitely ambitious, but not impossible,'' said Mr Subramanian.